New Jersey § 17:9A-390 Approval of charter

New Jersey Statutes

§ 17:9A-390 — Approval of charter

New Jersey § 17:9A-390

Title 17CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

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Bluebook

N.J. Stat. Ann. § 17:9A-390 (2026).

Text

If the commissioner determines that the establishment of a mutual savings bank holding company is in the best interests of the depositors of the organizing mutual savings bank, that the qualifications, experience and character of the proposed officers and directors of the mutual savings bank holding company are sufficient to result in the successful operation of the mutual savings bank holding company, and that the interests of the public will be served by the establishment of a mutual savings bank holding company, that the mutual savings bank holding company is adequately capitalized, and that the establishment of the mutual savings bank holding company otherwise meets the requirements of law, he may approve the charter. L. 1987, c. 201, s. 9.

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If the commissioner determines that the establishment of a mutual savings bank holding company is in the best interests of the depositors of the organizing mutual savings bank, that the qualifications, experience and character of the proposed officers and directors of the mutual savings bank holding company are sufficient to result in the successful operation of the mutual savings bank holding company, and that the interests of the public will be served by the establishment of a mutual savings bank holding company, that the mutual savings bank holding company is adequately capitalized, and that the establishment of the mutual savings bank holding company otherwise meets the requirements of law, he may approve the charter. L. 1987, c. 201, s. 9.